NTT DoCoMo Acquires Orix Credit

Mar 07, 2024 | News On Japan

TOKYO - NTT Docomo has announced its acquisition of a majority stake in Orix Credit, a subsidiary of the financial services giant Orix Corporation.

Amid intensifying competition among major mobile carriers to create enclosed economic ecosystems, the company aims to strengthen its financial services business, including unsecured personal loans. According to the announcement, NTT Docomo will acquire 66% of the shares of Orix Credit and will make it a subsidiary by the end of this month.

Orix Credit specializes in personal loans, housing loans, and other services. Docomo plans to enhance its financial services business, including unsecured personal loans offered through smartphone apps, a venture it began in 2022.

Toshihiro Eto, the Chief of NTT Docomo's Smart Life Company, stated in a press conference, "We aim to have our customers use a wider range of financial services, including investments, loans, and insurance." Other major mobile carriers, such as KDDI and Rakuten, are already offering various financial services within their groups, including banking, securities, and insurance.

Docomo has been rapidly strengthening its financial business, having made Monex Securities a subsidiary in January of this year, intensifying the competition to create what is referred to as "economic spheres."

Source: NHK

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